Dubai – Mubasher: The UAE is to provide a $6.2 billion financial support package to Pakistan.
The aid will be signed during the UAE Crown Prince Mohammed Bin Zayed’s two-day visit to the South Asian country starting Sunday, 6 January, Arabian Business reported.
The GCC nation’s financial package, which involves a cash deposit and deferred fuel payments, came in response to Pakistan’s request for assistance in an effort to overcome its balance of payments issues.
The aid package included $3 billion in cash loaned to the State Bank of Pakistan at an annual interest rate of 3.18% to help stabilise its current account, in addition to $3.2 billion in a 1-year oil credit facility.
